Closed Ended Residential Real Estate Funds In Sweden And Germany
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Closed Ended Residential Real Estate Funds In Sweden And Germany
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Author :
language : en
Publisher:
Release Date : 2013
Closed Ended Residential Real Estate Funds In Sweden And Germany written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013 with categories.
German Commercial Real Estate Funds In Sweden
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Author : Carolin Dörr
language : en
Publisher: GRIN Verlag
Release Date : 2008-07-09
German Commercial Real Estate Funds In Sweden written by Carolin Dörr and has been published by GRIN Verlag this book supported file pdf, txt, epub, kindle and other format this book has been release on 2008-07-09 with Business & Economics categories.
Master's Thesis from the year 2008 in the subject Business economics - Business Management, Corporate Governance, grade: 1, Royal Insitute of Technology (KTH) Stockholm (Division of Buildings and Real Estate Economics), language: English, abstract: This Master Thesis has the aim to identify the investment patterns of German commercial real estate funds in Sweden. Questions of “when”, “how” and “why” they entered the Swedish market are answered. Also the local distribution of these investments is taken into consideration. The motives why they had and still have chosen the Swedish market are explained and compared with several former research papers about foreign investment motives. 19 interviews have been made with German real estate funds as well as Swedish advisor companies in order to answer these questions. The interviews with German funds have shown that they face several problems due to the German Investment Act. The main difficulties are the prohibition of the double layer structure, hierarchy problems and strict regulations concerning investment rules. Thus German funds were limited in their ability to make decisions. But the German Investment Act will change and liberalize the German funds. Thus real estate funds will have the possibility to compete with other investors for projects, which they could not do before. German funds entered the market, because it promised to be a growing and stable market. At the time when German funds entered Sweden, the real estate situation and economic position was better compared with the German business and real estate cycles. The funds were mainly driven by diversification and the high liquidity in Germany. Official statistics showed that diversified international portfolios performed better than national ones. Another point in the investigation is the development of the interest rate in Sweden. Forecasts predict an increasing interest rate and so highly leveraged investors are likely to leave the market. German funds instead can be 100% equity financed and so will win more market share in the next years.
Understanding German Real Estate Markets
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Author : Tobias Just
language : en
Publisher: Springer
Release Date : 2016-10-06
Understanding German Real Estate Markets written by Tobias Just and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-10-06 with Business & Economics categories.
In this book, experts discuss how German real estate values have remained stable throughout the financial crisis, even though transaction volumes have been very volatile since 2005. Consequently, risk-averse national and international investors have started to invest in virtually all German real estate asset classes. This book tries to answer what has made the German real estate markets more resilient to shocks than many European real estate markets by analyzing the economic, regulatory and demographic environment. In 30 well-structured chapters, experts from both the academic and professional world analyze structural and current issues of German real estate markets. Readers will get a deep understanding of what makes the German real estate market special and where potential opportunities and threats in Europe’s largest real estate market exist.
Open End Real Estate Funds In Germany
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Author : Christina E. Bannier
language : en
Publisher:
Release Date : 2007
Open End Real Estate Funds In Germany written by Christina E. Bannier and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2007 with categories.
European Real Estate
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Author : Dilek Pekdemir
language : en
Publisher: Springer
Release Date : 2015-09-07
European Real Estate written by Dilek Pekdemir and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-09-07 with Business & Economics categories.
This book provides a thorough overview of the European real estate Market. It evaluates the performance difference between countries and sectors, and what implications this has for optimal investment strategy within real estate asset classes.
The International Encyclopedia Of Mutual Funds Closed End Funds And Real Estate Investment Trusts
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Author : Peter W. Madlem
language : en
Publisher: Taylor & Francis
Release Date : 2000
The International Encyclopedia Of Mutual Funds Closed End Funds And Real Estate Investment Trusts written by Peter W. Madlem and has been published by Taylor & Francis this book supported file pdf, txt, epub, kindle and other format this book has been release on 2000 with Business & Economics categories.
First Published in 2000. Routledge is an imprint of Taylor & Francis, an informa company.
Performance Of Open End Real Estate Funds In Liquidation
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Author : Oliver Munz
language : en
Publisher:
Release Date : 2014
Performance Of Open End Real Estate Funds In Liquidation written by Oliver Munz and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014 with categories.
Under the impression of the US subprime crisis many investors of German Open Real Estate Funds lost confidence in the product and redeemed their shares. As a consequence, various funds were not able to pay out investors and had to be closed as well as liquidated. This thesis primarily examines the subsequent settlement process, especially its implications and effects on the value preservation via analysing the performance of asset sales. Based on a handpicked data set obtained from the annual reports of the funds, two samples have been created. The first contains all the asset sales that were carried out by German Open End Real Estate Funds which are now closed, and the other of German Open End Real Estate Funds that are still open. The thesis shows that differences between the two samples in terms of their asset characteristics are not the key driver for the large discounts in the asset sales observed. However, the performance of asset sales has a statistically significant relation the status of the fund, indicating that the current settlement process is not sufficient enough to protect the investors from unnecessary value destruction.
Europroperty
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Author :
language : en
Publisher:
Release Date : 2010
Europroperty written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010 with Real estate business categories.
The International Encyclopedia Of Mutual Funds Closed End Funds And Reits
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Author : Peter W. Madlem
language : en
Publisher: Routledge
Release Date : 2014-01-27
The International Encyclopedia Of Mutual Funds Closed End Funds And Reits written by Peter W. Madlem and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-01-27 with Business & Economics categories.
Funds and REITs are among the fastest-growing and most important investment vehicles used by huge numbers of investors who wish to capitalize on the stock market and real estate booms of the 1990s. This timely book provides authoritative information, both historical and conceptual, that will help to ensure the right investment choices as well as explain these vehicles to novices. The International Encyclopedia of Mutual Funds, Closed-End Funds, and REITs is truly a publishing landmark: every conceivable concept, term, fund type, and strategy as well as a great array of individual funds and REITs are described, explained, and illustrated in this definitive book.
Tracking And Trading Commercial Real Estate Through Reit Based Pure Play Portfolios
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Author : Kristan Sami Juhani Elonen
language : en
Publisher:
Release Date : 2013
Tracking And Trading Commercial Real Estate Through Reit Based Pure Play Portfolios written by Kristan Sami Juhani Elonen and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013 with categories.
The idea of a pure-play property portfolio is simply to replicate the returns of a specified target real estate sector without any exposure to other sectors by taking an optimal mix of long and short positions in listed real estate securities, combined with bonds to de-lever the traded equity shares. The goal of this study was to explore the possibility of applying the pure portfolio methodology in Europe, similarly to the way it has been recently launched in the United States, by constructing various demonstration sets of country and sector indices for the major European real estate markets. We used data for the three-year period 2010-2012. We find that the pure-play methodology yields reasonable results for the European-wide office, retail, residential, industrial and multi-use indices. The all-sector country indices for the UK, France, Germany, Italy and Sweden seem to relatively accurately reflect the underlying economic trends in each country, while the Dutch index produced exaggerated negative results during the sample period. The performance of the computed Eurozone and Other-Europe indices are in line with reasonable expectations, among other things mirroring the events in the single currency area during 2011. A number of country-specific sector indices were also constructed. For the UK, office, retail, residential, industrial and multi-use indices were estimated. For France, office, retail and multi-use indices were computed. For Germany and Sweden office and residential sector indices were calculated. While the results for the majority of the country-specific sector indices seem reasonable and reliable, some of them suffer from high volatility or negative autocorrelation. In summary, this study suggests that the currently available data on European REITs and other real estate investment companies may well enable the construction of a number of sector, country, as well as country-specific sector indices for the key European real estate markets.